Snap-On Reports Earnings
Jan 22, 2003
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Snap-on Incorporated, a tools, diagnostics, and equipment company, announced fourth-quarter and full-year 2002 results. Net earnings for the fourth quarter of 2002 were U.S. $33.1 million, or $0.56 per diluted share, compared with a net loss of $17.4 million, or $0.30 per diluted share, in 2001. Excluding special items in both years, fourth-quarter diluted earnings per share were $0.50 in 2002 and $0.52 in 2001.

Net sales were $549.5 million in the fourth quarter of 2002, a 2.8-percent increase from the $534.6 million in the fourth quarter of 2001. Net earnings for the full year 2002 were $106.0 million, or $1.81 per diluted share, compared with $19.0 million, or $0.33 per diluted share, in 2001.

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